Rent Relief Act of 2022
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Jul 13, 2022)
Rent Relief Act of 2022
This bill allows a refundable income tax credit for individuals who pay rent for a principal residence that exceeds 30% of their adjusted gross income for the taxable year.
The amount of the credit ranges from 25% to 100% of the excess rent, depending on the adjusted gross income of the taxpayer. The credit is not available for taxpayers with adjusted gross incomes that exceed $100,000. Rent that exceeds 100% of the small area fair market rent (including the utility allowance) for the residence may not be taken into account in determining the amount of the credit.
The Department of the Treasury must establish a program for making advance payments of the credit on a monthly basis.
What just happenedJul 13, 2022
Referred to the House Committee on Ways and Means.
Who’s behind it
- Introduced in HouseJul 13, 2022
- Jul 13, 2022IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Jul 13, 2022IntroReferralB00100
Sponsor introductory remarks on measure. (CR E727)
- Jul 13, 2022IntroReferralIntro-H
Introduced in House
- Jul 13, 2022IntroReferral1000
Introduced in House